The Collaborative International Dictionary of English v.0.48:

Faro \Far"o\, n. [Said to be so called because the Egyptian king
   Pharaoh was formerly represented upon one of the cards.]
   A gambling game at cards, in which all the other players play
   against the dealer or banker, staking their money upon the
   order in which the cards will lie and be dealt from the pack.
   [1913 Webster]

   Faro bank, the capital which the proprietor of a faro table
      ventures in the game; also, the place where a game of faro
      is played. --Hoyle.
      [1913 Webster]

WordNet (r) 3.0 (2006):

faro
    n 1: a card game in which players bet against the dealer on the
         cards he will draw from a dealing box